Our verdict

Do you want to open a bank account designed specifically for Australian Defence Force organisations?

This account is designed for Defence Force organisations to help manage day-to-day expenses and transactions. You can get several linked Visa Debit Cards with the account so each person who needs to make transactions on behalf of the organisation has their own card.

There are no account keeping fees and no ongoing balance requirements to meet, making this a flexible, low-stress account.

Pros

No minimum balance
Savings available on call
No monthly account fees

Cons

Available for eligible organisations

You can open the Australian Military Bank Military Clubs Account if you’re an Australian Defence Force (ADF) related organisation such as a mess, club or canteen. This everyday account gives you access to funds in different ways, letting you pay bills and transact with equal ease. The account does not attract any ongoing monthly fees.

Details

Key details

Product Name	Australian Military Bank Military Clubs Account
Monthly account fee	$0
Card access	Visa
Own network ATM fee	$0
International ATM Fee	International ATM fee $4.50
International transaction fee	2.95%
Monthly deposit required to waive account fee	N/A
Contactless Payments	Apple Pay, Google Pay, Samsung Pay, Garmin Pay

Eligibility

Minimum Age	18
Joint account availability	No
Minimum opening deposit	N/A
Residency status	Permanent Australian residents with an Australian address

Key features

Minimum balance

You don't need any minimum balance to get started.

Visa debit card

The account allows for unlimited card holders. You can use the Visa debit card linked to your account to withdraw cash at ATMs and to make transactions at EFTPOS terminals the world over. You can also use your card details to make online and over the phone transactions. Every Visa debit card attracts an annual fee of $30.

Visa payWave

Your payWave enabled debit card lets you make tap and go contactless payments for purchases less than $100. You can make use of this feature at any merchant that displays the payWave symbol.

Online, phone and mobile banking

The bank gives account holders round-the-clock access to their accounts via its online, phone and mobile banking platforms. You get details of all account related transactions through online banking. The mobile banking app lets you view your account history. You can use these platforms to carry out different banking functions as well.

BPAY

Accountholders get access to BPAY, which they can use to pay bills. Every BPAY transaction attracts a fee of $0.60.

Direct debits, credits and periodical payments

You can move money in and out of your account easily by setting up direct credits and debits as well as periodical payments. Direct debits attract fees as do periodical payments.

Cheque book access

You can get access to an optional cheque book if required, which comes at a cost.

Banking at Australia Post

You can transact by visiting Australia Post Bank@Post outlets. Cash withdrawals attract fees. You can also deposit cash and cheques at Bank@Post outlets.

Interest

The money in your account earns interest at the rate of 0.01% p.a. The bank calculates interest on the minimum monthly balance and pays it out annually on 31st May.

Monthly fees

The account does not attract any ongoing monthly fees.

Other fees

You may have to pay other fees from time to time. These can include rediATM withdrawal fees, direct debit dishonour fees, card replacement fees, overseas ATM fees and foreign currency conversion fees.

How to apply

Eligibility

You can apply for the Australian Military Bank Access Account online, over the phone or by visiting any branch. To apply, you have to meet these eligibility criteria:

You are applying as an ADF related organisation such as a mess, club or canteen
You, as the primary signatory, are over 18 years of age

Documentation needed

Completing the application requires that you provide different kinds of information, which includes:

Your organisation's Australian Business Number (ABN)
Its registered address as well as it official phone number and email address

Every authorised signatory and Visa debit card holder is required to complete a legally mandated identity verification process. They can do this using their Australian driver's licenses or Medicare cards.

What happens after I submit my application?

If you don't have all the required information to complete the application in one go the bank lets you save it and return to it later. After you submit your application it makes its way to the bank's direct service team. If you wish to track the status of your application you can use the reference number you get when you submit it.

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Australian Military Bank Military Clubs Account

Pros

Cons

Key features

Minimum balance

Visa debit card

Visa payWave

Online, phone and mobile banking

BPAY

Direct debits, credits and periodical payments

Cheque book access

Banking at Australia Post

Interest

Monthly fees

Other fees

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Your reviews

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